Bloomia Holdings, Inc 10-Q, filed Aug 23, 2021

Bloomia Holdings, Inc. (TULP)

10-Q 2021-08-23 For: 2021-06-30

Added on April 11, 2026

About this 10-Q

Bloomia Holdings, Inc filed this 10-Q on August 23, 2021, covering the quarter ended June 30, 2021.

Headline figures

Quarter ended June 30, 2021, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $6.1M
Net loss: $894K; compared with a net loss of $1.84M a year earlier
Diluted EPS: -$0.51; compared with -$1.07 a year earlier

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Minnesota		41-1656308
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

Title of each class		Trading Symbol		Name of each exchange on which registered
Common Stock, $0.01 par value		ISIG		The Nasdaq Stock Market LLC

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☑	Smaller reporting company	☑
		Emerging growth company	☐

		Page
PART I.	FINANCIAL INFORMATION	1

Item 1.	Financial Statements	1

	Condensed Balance Sheets - June 30, 2021 (unaudited) and December 31, 2020	1

	Condensed Statements of Operations - Three and six months ended June 30, 2021 and 2020 (unaudited)	2

	Condensed Statements of Shareholders’ Equity - Six months ended June 30, 2021 and 2020 (unaudited)	3

	Condensed Statements of Cash Flows - Six months ended June 30, 2021 and 2020 (unaudited)	4

	Notes to Financial Statements - (unaudited)	5

Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	14

Item 3.	Quantitative and Qualitative Disclosures about Market Risk	20

Item 4.	Controls and Procedures	20

PART II.	OTHER INFORMATION	22

Item 1.	Legal Proceedings	22

Item 1A.	Risk Factors	22

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	22

Item 3.	Defaults upon Senior Securities	22

Item 4.	Mine Safety Disclosures	22

Item 5.	Other Information	22

Item 6.	Exhibits	23

Insignia Systems, Inc.
CONDENSED BALANCE SHEETS

				As Restated
	June 30, 2021			December 31,
	(Unaudited)			2020
ASSETS
Current Assets:
Cash and cash equivalents	$	5,879,000		$	7,128,000
Restricted cash		85,000			-
Accounts receivable, net		4,837,000			5,857,000
Inventories		91,000			85,000
Income tax receivable		242,000			241,000
Prepaid expenses and other		301,000			711,000
Total Current Assets		11,435,000			14,022,000

Other Assets:
Property and equipment, net		81,000			75,000
Operating lease right-of-use assets		29,000			37,000
Other, net		37,000			155,000

Total Assets	$	11,582,000		$	14,289,000

LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Accounts payable		2,516,000			3,148,000
Accrued liabilities:
Compensation		474,000			424,000
Sales tax		1,326,000			1,011,000
Other		1,072,000			1,071,000
Current portion of long-term debt		-			464,000
Current portion of operating lease liabilities		16,000			56,000
Deferred revenue		275,000			180,000
Total Current Liabilities		5,679,000			6,354,000

Long-Term Liabilities:
Accrued income taxes		694,000			677,000
Long-term debt, net of current portion		-			590,000
Operating lease liabilities		13,000
Total Long-Term Liabilities		707,000			1,267,000

Commitments and Contingencies		-			-

Shareholders' Equity:
Common stock, par value $.01:
Authorized shares - 5,714,000
Issued and outstanding shares - 1,765,000 at June 30, 2021 and 1,748,000 at December 31, 2020, respectively		18,000			17,000
Additional paid-in capital		16,396,000			16,238,000
Accumulated deficit		(11,218,000	)		(9,587,000	)
Total Shareholders' Equity		5,196,000			6,668,000

Total Liabilities and Shareholders' Equity	$	11,582,000		$	14,289,000

Insignia Systems, Inc.
CONDENSED STATEMENTS OF OPERATIONS
(Unaudited)

	Three Months Ended						Six Months Ended
	June 30						June 30
				As Restated						As Restated
	2021			2020			2021			2020
Services revenues	$	6,096,000		$	3,133,000		$	11,482,000		$	7,533,000
Products revenues		-			214,000			-			460,000
Total Net Sales		6,096,000			3,347,000			11,482,000			7,993,000

Cost of services		4,888,000			2,807,000			9,345,000			6,189,000
Cost of goods sold		-			208,000			-			380,000
Impairment loss - services		-			-			-			159,000
Total Cost of Sales		4,888,000			3,015,000			9,345,000			6,728,000
Gross Profit		1,208,000			332,000			2,137,000			1,265,000

Operating Expenses:
Selling		465,000			927,000			981,000			1,647,000
Marketing		260,000			243,000			495,000			608,000
General and administrative		1,336,000			992,000			3,273,000			1,996,000
Total Operating Expenses		2,061,000			2,162,000			4,749,000			4,251,000
Operating Loss		(853,000	)		(1,830,000	)		(2,612,000	)		(2,986,000	)

Other income (expense):
Gain on forgiveness of debt and accrued interest		-			-			1,062,000			-
Interest expense		(33,000	)		(18,000	)		(60,000	)		(33,000	)
Miscellaneous		2,000			16,000			2,000			40,000
Loss Before Taxes		(884,000	)		(1,832,000	)		(1,608,000	)		(2,979,000	)

Income tax expense (benefit)		10,000			11,000			23,000			(211,000	)
Net Loss	$	(894,000	)	$	(1,843,000	)	$	(1,631,000	)	$	(2,768,000	)

Net loss per share:
Basic	$	(0.51	)	$	(1.07	)	$	(0.93	)	$	(1.60	)
Diluted	$	(0.51	)	$	(1.07	)	$	(0.93	)	$	(1.60	)

Shares used in calculation of net loss per share:
Basic		1,755,000			1,725,000			1,753,000			1,725,000
Diluted		1,755,000			1,725,000			1,753,000			1,725,000

Insignia Systems, Inc.
CONDENSED STATEMENTS OF SHAREHOLDERS' EQUITY
(Unaudited)

	Common Stock				Additional Paid-In
	Shares		Amount		Capital			Accumulated Deficit			Total
Balance at December 31, 2020, as restated		1,748,000	$	17,000	$	16,238,000		$	(9,587,000	)	$	6,668,000
Issuance of common stock, net		6,000		1,000		25,000			-			26,000
Value of stock-based compensation		-		-		56,000			-			56,000
Net loss, as restated		-		-		-			(737,000	)		(737,000	)

Balance at March 31, 2021, as restated		1,754,000	$	18,000	$	16,319,000		$	(10,324,000	)	$	6,013,000
Value of stock-based compensation		-		-		86,000			-			86,000
Repurchase of common stock upon vesting of restricted stock units		11,000		-		(9,000	)		-			(9,000	)
Net loss		-		-		-			(894,000	)		(894,000	)
Balance at June 30, 2021		1,765,000	$	18,000	$	16,396,000		$	(11,218,000	)	$	5,196,000

	Common Stock					Additional Paid-In
	Shares		Amount		Capital			Accumulated Deficit			Total
Balance at December 31, 2019, as restated		1,725,000	$	16,000	$	16,039,000		$	(4,972,000	)	$	11,083,000
Issuance of common stock, net		5,000		-		20,000			-			20,000
Value of stock-based compensation		-		-		49,000			-			49,000
Net loss, as restated		-		-		-			(925,000	)		(925,000	)

Balance at March 31, 2020, as restated		1,730,000	$	16,000	$	16,108,000		$	(5,897,000	)	$	10,227,000
Value of stock-based compensation		-		-		59,000			-			59,000
Repurchase of common stock upon vesting of restricted stock units		4,000		-		-			-			-
Net loss, as restated		-		-		-			(1,843,000	)		(1,843,000	)
Balance at June 30, 2020, as restated		1,734,000	$	16,000	$	16,167,000		$	(7,740,000	)	$	8,443,000

Insignia Systems, Inc.
CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
				As Restated
Six Months Ended June 30	2021			2020
Operating Activities:
Net loss	$	(1,631,000	)	$	(2,768,000	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		32,000			267,000
Impairment loss - services		-			159,000
Gain on sale of property and equipment		(7,000	)		-
Changes in allowance for doubtful accounts		53,000			61,000
Stock-based compensation expense		142,000			108,000
Gain on forgiveness of debt and accrued interest		(1,062,000	)		-
Changes in operating assets and liabilities:
Accounts receivable		967,000			2,077,000
Inventories		(6,000	)		10,000
Income tax receivable		(1,000	)		(121,000	)
Prepaid expenses and other		536,000			(109,000	)
Accounts payable		(647,000	)		(851,000	)
Accrued liabilities		361,000			168,000
Income tax payable		17,000			17,000
Deferred revenue		95,000			430,000
Net cash used in operating activities		(1,151,000	)		(552,000	)

Investing Activities:
Purchases of property and equipment		(32,000	)		(44,000	)
Proceeds from sale of property and equipment		16,000			-
Net cash used in investing activities		(16,000	)		(44,000	)

Financing Activities:
Proceeds from issuance of common stock, net		26,000			20,000
Cash dividends paid ($0.70 per share)		(14,000	)		(14,000	)
Repuchase of common stock upon vesting of restricted stock awards and vesting of restricted stock units		(9,000	)		-
Proceeds from PPP loan		-			1,054,000
Net cash provided by financing activities		3,000			1,060,000

Increase (decrease) in cash and cash equivalents		(1,164,000	)		464,000

Cash and cash equivalents and restricted cash at beginning of period		7,128,000			7,510,000
Cash and cash equivalents and restricted cash at end of period	$	5,964,000		$	7,974,000

Supplemental disclosures for cash flow information:
Cash paid (refunded) during the period for income taxes	$	7,000		$	(107,000	)

Non-cash financing activity:
Operating lease right-of-use asset obtained in exchange for lease obligation	$	33,000		$	-
Forgiveness of debt and accrued interest	$	1,062,000		$	-
Purchase of property and equipment included in accounts payable	$	15,000		$	-

	June 30,		December 31,
	2021
Cash and cash equivalents	$	5,879,000	$	7,128,000
Restricted cash		85,000
Total cash, cash equivalents and retricted cash	$	5,964,000	$	7,128,000

	June 30, 2020
	Three months						Six months
Three Months Ended	As previously reported			Restated			As previously reported			Restated
Total Net Sales	$	3,388,000		$	3,347,000		$	8,070,000		$	7,993,000
Operating Loss		(1,777,000	)		(1,830,000	)		(2,886,000	)		(2,986,000	)
Net Loss		(1,772,000	)		(1,843,000	)		(2,635,000	)		(2,768,000	)

	The categories of restatement adjustments and their impact on previously reported financial statements are described below:

	(a)	Sales Tax and Related Misstatements – Sales tax on sales to customers who were subject to sales tax that was not previously accrued by the Company is corrected by an increase to accrued liabilities on the balance sheets and a reduction of net sales on the statements of operations. The Company also determined on which past sales the Company would bill for sales tax and corrected by increasing accounts receivable, net of an allowance for doubtful collectability, on the balance sheets and increasing net sales on the statements of operations. Estimated penalties on the related sales tax are corrected by an increase to accrued liabilities on the balance sheets and an increase to general and administrative expenses on the statements of operations. Estimated interest on the related sales tax is corrected by an increase to accrued liabilities on the balance sheets and an increase to interest expense within other income on the statement of operations.

	(b)	Related Income Tax Impact - Any impact on income tax benefit from the impact on loss before taxes due to the correction in (a) above is reflected as a change in deferred tax asset or liability on the balance sheet and a change in income tax benefit on the statements of operations.

	The following is a summary of the impact of the correction of the sales tax error for the periods previously reported for the three and six months ended June 30, 2020.

	The following table sets forth the corrections in each of the individual line items affected in the statements of operations:

	June 30, 2020
	As previously reported		Error correction		Restated
Accounts receivable, net	$	5,319,000	$	102,000	$	5,421,000
Accrued liabilities - sales tax	$	-	$	773,000	$	773,000
Accrued liabilities - other	$	597,000	$	172,000	$	769,000
Accumulated deficit	$	6,896,000	$	844,000	$	7,740,000

SHAREHOLDERS' EQUITY

	Accumulated Deficit			Total Shareholders' Equity
June 30, 2020
As reported	$	(6,896,000	)	$	9,287,000
Adjustment due to cumulative error correction		(844,000	)		(844,000	)
As restated	$	(7,740,000	)	$	8,443,000

3.	Revenue Recognition. Under Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (“Topic 606”), revenue is measured based on consideration specified in the contract with a customer, adjusted for any applicable estimates of variable consideration and other factors affecting the transaction price, including noncash consideration, consideration paid or payable to a customer and significant financing components. Revenue from all customers is recognized when a performance obligation is satisfied by transferring control of a distinct good or service to a customer, as further described below under “Performance Obligations.”

	Taxes collected from customers and remitted to governmental authorities are excluded from revenue on the net basis of accounting.

	The Company includes shipping and handling fees in revenues. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of goods sold.

	*Performance Obligations*

	A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account under Topic 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The following is a description of the Company’s performance obligations included in its primary revenue streams and the timing or method of revenue recognition for each:

	*In-Store Signage Solution Services.* The Company provides a service of displaying promotional signs in close proximity to the CPG manufacturer’s product in participating stores, which the Company maintains in two-to-four-week cycle increments.

	Each of the individual activities under the Company’s services, including production activities, are inputs to an integrated sign display service. Customers receive and consume the benefits from the promotional displays over the duration of the contracted display cycle. Additionally, the display of the signs does not have an alternative use to the Company and the Company has an enforceable right to payment for services performed to date. As a result, the Company recognizes the transaction price for service performance obligations as revenue over time. Given the nature of the Company’s performance obligations is to provide a display service over the duration of a specified period or periods, the Company recognizes revenue on a straight-line basis over the display service period as it best reflects the timing of transfer of its sign solutions.

	*Non-POPS Solutions*. The Company also supplies CPG manufacturers with other retailer approved promotional services, such as signage, on-pack, merchandising and digital solutions. These services are more customized than POPS, consisting of variable durations and variable specifications. Due to the variable nature of these services, revenue recognition is a mix of over-time and point-in-time recognition.

	*Products*. Prior to the August 2020 sale of the Company’s custom print business, the Company also sold custom print solutions directly to its customers. Each such product was a distinct performance obligation. Revenue was recognized at a point-in-time upon shipment when control of the goods transferred to the customer.

	*Disaggregation of Revenue*

	In the following table, revenue is disaggregated by major revenue stream and timing of revenue recognition.

	June 30,			December 31,
	2021			2020
Property and Equipment:
Production tooling, machinery and equipment	$	27,000		$	2,349,000
Office furniture and fixtures		88,000			425,000
Computer equipment and software		714,000			1,447,000
Construction in-progress		8,000			17,000
		837,000			4,238,000
Accumulated depreciation and amortization		(756,000	)		(4,163,000	)
Net Property and Equipment	$	81,000		$	75,000

	Three months ended June 30, 2021						Six months ended June 30, 2021
	Services Revenues		Products Revenue		Total Revenue		Services Revenues		Products Revenue		Total Revenue
Timing of revenue recognition:
Products and services transferred over time	$	1,861,000	$	-	$	1,861,000	$	3,884,000	$	-	$	3,884,000
Products and services transferred at a point in time		4,235,000		-		4,235,000		7,598,000		-		7,598,000
Total	$	6,096,000	$	-	$	6,096,000	$	11,482,000	$	-	$	11,482,000

	As Restated
	Three months ended June 30, 2020						Six months ended June 30, 2020
	Services Revenues		Products Revenue		Total Revenue		Services Revenues		Products Revenue		Total Revenue
Timing of revenue recognition:
Products and services transferred over time	$	2,012,000	$	-	$	2,012,000	$	5,343,000	$	-	$	5,343,000
Products and services transferred at a point in time		1,121,000		214,000		1,335,000		2,190,000		460,000		2,650,000
Total	$	3,133,000	$	214,000	$	3,347,000	$	7,533,000	$	460,000	$	7,993,000

	*Contract Costs*

	Sales commissions that are paid to internal or external sales representatives are eligible for capitalization as they are incremental costs that would not have been incurred without entering into a specific sales arrangement and are recoverable through the expected margin on the transaction. The Company is applying the practical expedient in Accounting Standards Codification 340-40-25-4 that allows the incremental costs of obtaining a contract to be recorded as an expense when incurred when the amortization period of the asset that would have otherwise been recognized is one year or less. These costs are included in selling expenses.

	*Deferred Revenue*

	Significant changes in deferred revenue during the period are as follows:

Balance at December 31, 2020	$	180,000
Reclassification of beginning deferred revenue to revenue, as a result of performance obligations satisfied		(148,000	)
Cash received in advance and not recognized as revenue		243,000
Balance at June 30, 2021	$	275,000

	*Transaction Price Allocated to Remaining Performance Obligations*

	The Company applies the practical expedient in paragraph 606-10-50-14 and does not disclose information about remaining performance obligations that have original expected durations of one year or less, which reflect the majority of its performance obligations. This practical expedient is being applied to arrangements for certain incomplete services and unshipped custom signage materials. Among our contracts with an expected duration of greater than one year, we anticipate that revenue of $38,000, $116,000 and $60,000 related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 30, 2021 will be recognized during the remainder of fiscal 2021, 2022 and 2023, respectively.

5.	Income Taxes. For the three and six months ended June 30, 2021, the Company recorded income tax expense of $10,000 and $23,000, respectively, or (1.1)% and (1.4)% of loss before taxes, respectively. For the three and six months ended June 30, 2020, the Company recorded income tax expense of $11,000 and an income tax benefit of $211,000, respectively, or (0.6)% and 7.1% of loss before taxes, respectively. The income tax benefit or expense for the three and six months ended June 30, 2021 and 2020 is comprised of federal and state taxes. The primary differences between the Company’s June 30, 2021 and 2020 effective tax rates and the statutory federal rate are nondeductible stock-based compensation, nondeductible meals and entertainment and increases in the Company’s valuation allowance against its deferred tax assets and nondeductible penalties for June 30, 2021, and loan forgiveness from the Paycheck Protection Program (PPP) loan. The Company reassesses its effective rate each reporting period and adjusts the annual effective rate if deemed necessary, based on projected annual taxable income (loss).

	Deferred income taxes are determined based on the estimated future tax effects of differences between the financial statements and tax basis of assets and liabilities given the provisions of enacted tax laws. In providing for deferred taxes, the Company considers tax regulations of the jurisdictions in which it operates, estimates of future taxable income and available tax planning strategies. If tax regulations, operating results or the ability to implement tax-planning strategies vary, adjustment to the carrying value of deferred tax assets and liabilities may be required. Valuation allowances are recorded related to deferred tax assets based on the “more likely than not” criteria. At June 30, 2021 and December 31, 2020, the Company had a valuation allowance of approximately $2,586,000 and $1,946,000, respectively, against its entire deferred tax asset because the Company does not believe it is more likely than not that it will realize its deferred tax asset.

	As of June 30, 2021, and December 31, 2020, the Company had unrecognized tax benefits totaling $694,000 and $677,000, respectively, including interest, which relates to state nexus issues. The amount of the unrecognized tax benefits, if recognized, that would affect the effective income tax rates of future periods is $694,000. The Company believes that it is reasonably possible that a decrease of up to $650,000 in unrecognized tax benefits related to state exposures may be necessary within the coming year, which would reduce accrued income taxes and increase income tax benefit.

	In March 2020, Congress passed the Coronavirus Aid, Relief and Economic Security (“CARES”) Act. The CARES Act, among other provisions, allows for companies to carry back federal NOLs generated in 2018, 2019 and 2020 for up to five years for refunds of federal taxes paid. This provision created an opportunity for the Company to utilize NOLs not previously expected to be utilized. Thus, in 2020 the Company reversed approximately $215,000 of its valuation allowance against the NOLs in its deferred tax assets which the Company carried back to claim a refund of federal taxes paid. As the Company expects to receive the tax refund from the ability to carry back the NOLs within the next 12 months, this discrete benefit has been recorded within income taxes receivable on the balance sheet. In addition to the $215,000 recognized, $17,000 was included as a discrete tax benefit for 2020 and included in income taxes receivable related to the NOL carry back due to differences in the federal tax rate utilized for the deferred tax asset compared to the rates in effect for the years in which the NOL is being carried back.

7.	Legal Proceedings. In July 2019, the Company brought suit against News America in the U.S. District Court in Minnesota, alleging violations of federal and state antitrust and tort laws by News America. The complaint alleges that News America has monopolized the national market for third-party in-store advertising and promotion products and services through various wrongful acts designed to harm the Company, its last significant competitor. The suit seeks, among other relief, an injunction sufficient to prevent further antitrust injury and an award of treble damages to be determined at trial for the harm caused to our Company.

	In August 2019, News America filed an answer and counterclaim. In October 2019, News America moved for a judgment on the pleadings. Management believes that the counterclaim is without merit, and the Company filed a response brief on November 11, 2019. The Company also moved to dismiss the counterclaim against it. The court heard oral arguments from both parties on January 14, 2020, and subsequently denied both motions. On July 10, 2020 the parties cross-moved for summary judgment on the counterclaim. On December 7, 2020, the Court granted News America’s motion for summary judgment on the counterclaim in part, requiring Insignia to strike certain allegations from its complaint and finding News America’s request for attorneys’ fees and costs premature.

	Discovery is underway and trial has been scheduled for December 2021. At this stage of the proceedings, the Company is unable to determine the likelihood of an unfavorable outcome or estimate any potential resulting liability.

8.	Loan. In April 2020, the Company entered into a promissory note (the “Note”) with Alerus Financial, N.A. The Note evidenced a loan to the Company in the amount of $1,054,000 pursuant to the Paycheck Protection Program (the “PPP”) of the CARES Act administered by the U.S. Small Business Administration (the “SBA”).

	In accordance with the requirements of the CARES Act, the Company used the proceeds from the loan exclusively for qualified expenses under the PPP, including payroll costs, rent and utility costs, as further detailed in the CARES Act and applicable guidance issued by the SBA. Interest was accrued on the outstanding balance of the Note at a rate of 1.00% per annum. The Note was scheduled to mature on April 22, 2022 and required 18 equal monthly payments of principal and interest.

	The Company’s application for forgiveness of the entire principal amount and all accrued interest under the Note was approved by the SBA on January 29, 2021. Accordingly, for the six months ended June 30, 2021 the debt of $1,054,000, plus accrued interest of $8,000, was eliminated with a gain on debt forgiveness and accrued interest included in other income.

	·	revenue recognition;
	·	allowance for doubtful accounts;
	·	sales taxes;
	·	income taxes; and
	·	stock-based compensation.

Exhibit Number	Description	Method of Filing

3.1	Restated Articles of Incorporation, as amended January 4, 2021 (incorporated by reference to Exhibit 3.2 to current report on Form 8-K filed January 6, 2021)	Incorporate by Reference

3.2	Composite Bylaws, as amended through December 5, 2015 (incorporated by reference to Exhibit 3.2 to annual report on Form 10-K for the year ended December 31, 2015)	Incorporated by Reference

31.1	Certification of Principal Executive Officer	Filed Electronically

31.2	Certification of Principal Financial and Accounting Officer	Filed Electronically

32	Section 1350 Certification	Furnished Electronically

101	The following materials from Insignia Systems, Inc.’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, formatted in XBRL (eXtensible Business Reporting Language): (i) Condensed Balance Sheets; (ii) Condensed Statements of Operations; (iii) Condensed Statements of Shareholders’ Equity; (iv) Condensed Statements of Cash Flows; and (v) Notes to Financial Statements.	Filed Electronically

	INSIGNIA SYSTEMS, INC.
	(Registrant)

Dated: August 23, 2021	/s/ Kristine A. Glancy
	Kristine A. Glancy
	President and Chief Executive Officer
	(on behalf of registrant and as interim principal financial officer)

Dated: August 23, 2021	/s/ Zackery A. Weber
	Zackery A. Weber
	Senior Director of Financial Planning and Analysis
	(interim principal accounting officer)